In Brief: Refusing to be Jilted … The Graduates … Bean’s Move Forward … Selling Selfridges …
REFUSING TO BE JILTED: EB Acquisition Ltd. has written to the management of Elder-Beerman Stores Corp. decrying the department store’s decision to negotiate exclusively with a single suitor and urging a “full and fair” auction of the...
REFUSING TO BE JILTED: EB Acquisition Ltd. has written to the management of Elder-Beerman Stores Corp. decrying the department store’s decision to negotiate exclusively with a single suitor and urging a “full and fair” auction of the company. The investor group said it is interested in making an all-cash offer for the company, even at a premium to the current stock price and, if successful in its bid to acquire the retailer, intends to keep the firm’s headquarters in Dayton, Ohio, “maintain its employee base and expand in various areas in the United States.” Elder-Beerman stock closed unchanged at $4.70 in Nasdaq trading Wednesday but is up $1.36, or 40.7 percent, since it revealed last Thursday that it was negotiating with a single party about a sale. The letter from EB Acquisition was signed by Daniel Summers as managing member of the firm.
THE GRADUATES: Anna Wintour, editor in chief of Vogue, will give the commencement address to the class of 2003 at the Fashion Institute of Technology on Friday, while Calvin Klein will receive an honorary degree, the college said. Klein is a 1963 graduate of FIT. About 2,600 students will receive their degrees at the 10 a.m. ceremony at Radio City Music Hall, which will also include an address from Sen. Charles Schumer (D., N.Y.).
BEAN’S MOVE FORWARD: L.L. Bean is said to have taken the next step on its plan to purchase Eddie Bauer by hiring consultants to help it review each of Bauer’s assets. As reported, Bauer’s parent, The Spiegel Group, is operating under Chapter 11 bankruptcy court protection. L.L. Bean is still in the early stages of its potential acquisition of some or all of Bauer’s assets, including the nameplate, customer list and warehouses. Spiegel so far has maintained that Bauer is not for sale, but market sources said two months ago it was quietly shopping the operation.
SELLING SELFRIDGES: The clock is ticking for Iranian property tycoon Robert Tchenguiz to make a rival offer for London-based department store Selfridges. Sources say Tchenguiz, who is working with the consortium Aletheia Partners, is putting together a knockout bid that will value the company at more than $1 billion, and submit it by the end of the week. A spokeswoman for Tchenguiz did not return phone calls, while a Selfridges spokeswoman declined to comment. On Friday, Galen Weston’s bid for Selfridges — which already has been recommended by the store’s board — was mailed to shareholders.
There'll be no rest for those headed to Europe for men's, as Paris just closed the gap with Milan. According to a provisional calendar released by the Chambre Syndicale, Paris Men's Week will now open a day earlier on January 16. See new highlights on the official lineup on WWD.com. #wwdnews #wwdfashion (📷: @kukukuba)
BREAKING: Jonathan Saunders is leaving @DVF. The designer has resigned from his position as chief creative officer of Diane von Furstenberg, the company said in a statement on Friday. At the time of his hire, von Furstenberg said Saunders’ arrival symbolized and facilitated her stepping back from the day-to-day duties that occupy the work of a full-time creative director. The British designer joined DVF in May 2016 and was in charge of all product categories. #wwdnews
For @versace_official’s spring ad campaign, the brand emphasized the archival prints from the spring tribute collection dedicated to the late Gianni Versace. Closing out the show were five of Gianni’s favorite models: Cindy, Naomi, Carla, Helena, and Claudia. Bowing on December 18, the new campaign is yet another tribute to supermodel-dom as the images by Steven Meisel are fronted by @iamnaomicampbell, @cturlington, @gisele and more. #wwdfashion
Four-time Oscar-nominated actress Annette Bening has been waiting 20 years to play Gloria Graham in "Film Stars Don't Die in Liverpool," which will be released on December 29. The movie about Graham – a Hollywood star known for her controversial relationship with a younger Englishman named Peter Turner – is based off a memoir Turned wrote. "She felt vulnerable to him, because she loved him, she really did love him. And anyone that we really truly are in love with, we re vulnerable to in a very deep way," said Bening. Read our full interview with the modern icon of an actress on WWD.com. #wwdeye (📷: @ninebagatelles; Styled by @cristinaehrlich)
The crisp white button down: a staple that can be dressed up or down and accessorized throughout the decades. Here, on a Art Basel-goer in 2017 on the left and on the iconic Audrey Hepburn in “Roman Holiday” in 1953 on the right. #tbt #wwdfashion (📷: Andrew Morales)
Known for her work with @victoriassecret, 25-year-old model @georgiafowler is raising her profile in Hollywood. Fowler stars in @vincecamuto’s holiday campaign, which launched in partnership with “Pitch Perfect 3.” “Almost every shoot with Vince Camuto, I’ve had to face a fear…It was definitely a challenge. I’m so grateful for it, though. I’ve always wanted to be a pop star, so that was the perfect chance,” Fowler said. Head to WWD.com to read about Fowler’s experience modeling, including at the #VSFashionShow, and her relationship with Nick Jonas. #wwdeye (📷: @jilliansollazzo)
EXCLUSIVE: Huda Kattan just became the first beauty influencer to land a major beauty deal. Kattan's business, @hudabeauty, has received a minority investment from private equity firm TSG Consumer Partners. The brand, which industry sources say is on track to do $200 million in retail sales for 2017, will receive support on product, retail and geographic expansion through the deal. Get all the details on the deal and read @_a_collins' interview with Kattan on WWD.com. Link in bio. (📷: @jgreenery) #wwdbeauty #wwdnews
Peruvian model @juanaburga_official – who is known for walking the runways of @rodarte, @viviennewestwood and @torybuch – is making the move to the big screen with drama “Los Últimos.” The film premiered in Argentina in November and arrives in the U.S. and Europe in 2018. On making the switch from modeling to acting, Burga told WWD: “It’s a completely different thing – a lot of people think it’s similar or try to connect things, especially like getting used to the camera or being looked at all the time or playing these different characrers, but film is a completely different story.” #wwdeye (📷: @jgreenery)
London’s newly opened @designmuseum will look back on the life and work of Azzedine Alaïa in a show that the designer helped to curate before he died of heart failure last month. The retrospective, which Alaïa had worked on with Mark Wilson, chief curator of the @groningermuseum, will look at the impact of his work worldwide. The show, “Azzedine Alaïa: The Couturier,” will run from May 10 to October 7. Read more about the exhibit on WWD.com #wwdnews #wwdfashion (📷: @zefashioninsider)